Arbitration / Mediation / Litigation

The Legitimacy of Investment Arbitration: Empirical Perspectives

Edited by Daniel Behn · Ole Kristian Fauchald · Malcolm Langford
Cambridge University Press January 2022

Specifications

ISBN-13
9781108837583
Publisher
Cambridge University Press
Publication
January 2022
Format
Hardback
Jurisdiction
U.K. ? Countri(es) for reference only

Details

International investment arbitration remains one of the most controversial areas of globalisation and international law. This book provides a fresh contribution to the debate by adopting a thoroughly empirical approach. Based on new datasets and a range of quantitative, qualitative and computational methods, the contributors interrogate claims and counter-claims about the regime's legitimacy. The result is a nuanced picture about many of the critiques lodged against the regime, whether they be bias in arbitral decision-making, close relationships between law firms and arbitrators, absence of arbitral diversity, and excessive compensation. The book comes at a time when several national and international initiatives are under way to reform international investment arbitration. The authors discuss and analyse how the regime can be reformed and ow a process of legitimation might occur.

Table of Contents

1. Introduction: The Legitimacy Crisis and the Empirical Turn
Daniel Behn, Ole Kristian Fauchald, Malcolm Langford
2. The International Investment Regime and its Discontents
Daniel Behn, Ole Kristian Fauchald, Malcolm Langford
Part I. Process Legitimacy: Independence and Impartiality
3. Testing Cognitive Bias: Experimental Approaches and Investment Arbitration
Sergio Puig, Anton Strezhnev
4. The Influence of Law Firms in Investment Arbitration
Runar Hilleren Lie
5. Arbitrator Challenges in International Investment Tribunals
Chiara Giorgetti
6. Dissents in Investement Arbitration: On Collegiality and Individualism
Daphna Kapeliuk
Part II. Process Legitimacy: Legal Reasoning
7. Foreign Investors, Domestic Courts and Investment Treaty Arbitration
Szilárd Gáspár-Szilágyi
8. Ensuring Correctness or Promoting Consistency: Tracking Policy Priorities in Investment Arbitration through Large-scale Citation Analysis
Wolfgang Alschner
9. Fair and Equitible Treatment: Ordering Chaos through Precedent
Florian Grisel, Meng Jia Yang
Part III. Output Legitimacy
10. The West and the Rest: Geographic Diversity and the Role of Arbitrator Nationality in Investment Arbitration
Malcolm Langford, Daniel Behn, Maxim Usynin
11. Mixing Methodologies in Empirically Investigating Investment Arbitration and Inbound Foreign Investment
Shiro Armstrong, Luke Nottage
12. Double Jeopardy? The Use of Investment Arbitration in Times of Crisis
Cedric Dupont, Thomas Schultz, Merih Angin
13. Who has Benefited Financially from Investment Treaty Arbitration? An Evaluation of the Size and Wealth of Claimants
Gus Van Harten, Pavel Malysheuski
14. Explaining China's Relative Absence from Investment Treaty Arbitration
Fredrik Lindmark, Daniel Behn, Ole Kristian Fauchald
Part IV. Legitimation Strategies
15. Does International Arbitration Enfeeble or Enhance Local Legal Institutions?
Catherine Rogers, Christopher Drahozal
16. Learning from Investment Treaty Law and Arbitration: Developing States and Power Inequalities
Mavluda Sattorova, Oleksandra Vytiaganets
17. Legitimation through Modification: Do States Seek More Regulatory Space in Their Investment Agreements?
Tomer Broude, Yoram Haftel, Alex Thompson
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